Please find below a series of Q&As issued to support the consultation which ran from 16 March 2015 to 22 May 2015.
What is your question about?
Select a question below to see the answer
- What is a valuation?
A valuation is a legal requirement of defined benefit occupational pension schemes, and it must take place at least every three years. It’s an assessment of the scheme’s assets (the investments it holds, the contributions it expects from employers and members and the returns it expects to make on its investments) and the liabilities (the amount it needs in order to pay the benefits already earned by members). It also determines the cost providing benefits in the future.
You can find out more about the 2023 valuation at https://www.uss.co.uk/about-us/valuation-and-funding/2023-valuation
- What is Universities UK?
Universities UK (UUK) is the collective voice of 140 universities across the UK. It represents participating employers on the Joint Negotiating Committee and appoints members to the Trustee Board and to the Advisory Committee.
- What is the University and College Union?
University and College Union (UCU) is a trade union and professional association that represents individuals working in further and higher education throughout the UK. It represents members of the scheme on the Joint Negotiating Committee and appoints members to the Trustee Board and to the Advisory Committee.